From: abelard 
Newsgroups: uk.politics.misc uk.finance alt.politics.british alt.conspiracy.new-world-order
Subject: Re: What is to stop Gordon Brown printing money?
Date: Thu, 19 Jan 2006 13:59:05 +0100

On Thu, 19 Jan 2006 07:14:16 GMT, "Aztech"   

  typed:
>"abelard"  wrote in message
><
>>>M3 is directly associated with the creation of debt :-
>>>http://www.babylontoday.com/#m3_vs_debt
>>
>> i don't think i'm ready for the link yet...i'm trying to get hold
>>    of *your* meaning....
>> m3 is a measure of money supply....
>> most of it was there last week and last year....
>>
>> so how does that square with....
>> "our entire money supply is essentially debt based"
>>
>> do you believe the coins jingling in your pocket 'debt based'
>> if so why....
>> because them as do the figures try to include your coins in m3
>
>Narrow money (M0) only constitutes 3% of the money supply, I wouldn't get 
>too caught up with the fact they're physical objects, they are bits of paper 
>backed by nothing but trust in the fact the bunch bowl hasn't been watered 
>down too much. 

1)they (and much else) are still included in m3 and your claim is that
     "our entire money supply is essentially debt based"
2)the trust has real world effects...if you pass the scrip to the local
     shop keeper they are mostly content to supply you will all manner
     of toys...

most people even let 'their' children out with baby sitters, teachers,
    travelling to the rock concert etc on the basis of 'trust'....
they leave 'their' motors on the streets on the basis of 'trust'...

indeed money is a matter of trust which is why inflation is such
    a grave irresponsibility in governments....
inflation is government theft and as such undermines public
    trust...
undermining trust is serious....

but that does not translate into
"our entire money supply is essentially debt based"

regards

-- 
web site at www.abelard.org - news and comment service, logic, 
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